Duncan Group may sell fertiliser unitSeptember 30th, 2009 KOLKATA - Duncan Goenka Group is looking for a potential buyer or a joint venture partner for its closed fertiliser unit, a top official said here Wednesday. The group acquired Duncans Fertiliser Industries Ltd from ICI India in December 1994.
Jharkhand opens food outlets in drought-hit areasAugust 20th, 2009 RANCHI - Faced with a drought-like situation in all 24 districts of the state, the Jharkhand government has opened around 150 outlets to sell essential food items at fair price, an official said Thursday. The outlets known as Suvidha Stores is a joint venture of the Jharkhand State Agricultural Marketing Board (JSAMB) and the Federation of Jharkhand Chamber of Commerce and Industries (FJCCI).
Government looking at regulating food prices: PawarAugust 19th, 2009 NEW DELHI - The government Wednesday said it would not hesitate to regulate prices of food commodities as it expects rice production to fall by 10 million tonnes due to a weak monsoon this year. In the wake of expectations of reduced production of rice and wheat, the government will not hesitate to undertake open market intervention and release wheat and rice under the Open Market Sale Scheme to the state governments, said Agriculture Minister Sharad Pawar at a conference of state food ministers here.
Associated Food Stores to buy 36 Albertsons stores in Utah from SupervaluJuly 28th, 2009 Grocery wholesaler to buy 36 Albertsons in UtahSALT LAKE CITY — Grocery wholesaler Associated Food Stores Inc. says it has agreed to buy 36 Albertsons stores in Utah from Minneapolis-based Supervalu Inc.
Over 18,000 cases filed against firms for breaking lawJuly 27th, 2009 New Delhi, - A whopping 18,183 cases were filed against firms violating the Companies Act between Jan 1, 2008, and March 31, 2009, the government said Monday. Further, a total of 238 companies were identified as having "vanished" after cheating the public and siphoning off funds garnered by subscriptions to initial public offers (IPOs), said Corporate Affairs Minister Salman Khurshid in a written reply to the Rajya Sabha.
New York AG sues 35 law firms over debt collection mess, wants 100,000 legal judgments tossedJuly 22nd, 2009 NY sues 35 law firms over debt collection messNEW YORK — New York's attorney general is suing 35 law firms over what he says were botched attempts to collect debts from thousands of people. The lawsuit seeks to overturn nearly 100,000 legal judgments entered against people who failed to respond to court claims over their debts.
Summers: Wall Street firms in better health now thanks to gov't; paybacks of aid good signJuly 17th, 2009 Summers: Wall Street firms better thanks to gov'tWASHINGTON — President Barack Obama's top economic adviser says the improved health displayed by some large Wall Street firms would have been impossible without government help. Lawrence Summers, the director of the White House's National Economic Council, said Friday that the ability of certain large banks to pay the Treasury back for large infusions of taxpayer money is a positive and favorable sign.
Divestment to address India's economic woes: Moody'sJuly 16th, 2009 NEW DELHI - The government's plan to sell stakes in state-owned enterprises will strengthen its financial position and help address India's many economic woes, says the economic research arm of consultancy Moody's. "Divestment is an answer to many of India's existing economic concerns.
160 state-run firms post profits in 2007-08July 14th, 2009 NEW DELHI - Only 160 out of 419 central government-run firms made profits in 2007-08, contributing Rs.23,857.88 crore (Rs.238.58 billion/$4.86 billion) as dividend to the exchequer, the government said Tuesday. Government-controlled companies had contributed Rs.18,443.79 crore (Rs.184.44 billon) in 2005-06 and Rs.22,834.76 crore (Rs.228.35 billion) in 2006-07 to the central kitty, said Minister of State for Heavy Industries and Public Enterprises Arun Yadav in a written reply in the Rajya Sabha.
Singapore bans 10 financial firms from selling structured notes after Lehman-linked defaultJuly 8th, 2009 Singapore bans 10 firms from selling risky bondsSINGAPORE — Singapore's central bank has banned some of the island's biggest financial institutions from selling structured notes after they improperly marketed $367 million of the bonds that were linked to Lehman Brothers Holdings Inc. The 10 banks and brokerages can't sell structured notes for between six months and two years, the central bank, known as the Monetary Authority of Singapore, said in a statement late Tuesday.
Iceland's special investigator says 2 investment firm offices are searched in criminal probeJuly 7th, 2009 Searches at offices of 2 Iceland investment firms
REYKJAVIK, Iceland — Iceland's special prosecutor says that the offices of two investment firms are being searched in a criminal investigation related to the collapse of the nation's banking system. The special prosecutor's office said investigators were searching the offices of the investment firms Milestone and Sjova.
Food processing is answer to India's problems: PranabJune 24th, 2009 HALDIA - After the Green Revolution and White Revolution, a food processing revolution is the need of the hour for India to solve "major problems of unemployment, rural poverty and deprivation", Finance Minister Pranab Mukherjee said Wednesday. After Green Revolution and White Revolution, there is need for translating into reality another revolution, that is the revolution in the food processing industry.
Banks, investment firms borrow less over past week from Fed's emergency lending programMay 8th, 2009 Banks, investment firms draw less from FedWASHINGTON — The Federal Reserve says banks and investment firms borrowed far less over the past week from its emergency lending program, a hopeful sign some credit stresses are easing. The Fed says commercial banks averaged $40.9 billion in daily borrowing over the past week that ended Wednesday.
India's first mega food park at HaridwarFebruary 21st, 2009 NEW DELHI - India's first mega food park is to come up at Haridwar in Uttarakhand, yoga guru Baba Ramdev's Patanjali Yog Peeth said Friday. The Patanjali Food and Herbal Park will be inaugurated by Union Minister for Food processing Industries Subodh Kant Sahai Feb 25, a press statement said.
Extra telecom services don't need separate licences: RegulatorJanuary 13th, 2009 NEW DELHI - Providers of value-added telecom services (VAS) do not require separate licences, the Telecom Regulatory Authority of India (TRAI) said Wednesday, a point of view that has come as a big relief to many firms. 'The authority does not envisage any separate category of licence for value-added services,' TRAI said in a recommendation paper.